Purchasing shops premises by borrowing money from a financial institution (e.g.: bank, building society), as it is the case for Jack and Jill, is the description of a contract concerning land known as mortgage. The mortgagee (the lender) provides a loan to the mortgagor (the borrower) who can be either individuals or businesses, in exchange of advances secured on the property and regular interests. (Riches & Allen, 2009) The Law of Property Act 1925 set out the rights and duties of the parties regarding transactions concerning land.